The Indian government is planning to go big on electric vehicles and aims to have all electric car fleet by 2030. The key aim behind this is to decrease the fuel import bill and running prices of vehicles in the country. According to Power Minister Piyush Goyal, the NITI Aayog and the Ministry of Heavy Industries are working on a policy to promote electric vehicles. Pointing towards the price factor, Goyal said that when people will find electric vehicles to be cost-effective, they will buy it. As of now, we also have the Faster Adoption and Manufacturing of Hybrid and Electric vehicles a.k.a. the FAME initiative in India, under which the government offers subsidies on hybrid and electric vehicles.
Addressing the CII Annual Session 2017, Goyal said, “We are going to introduce electric vehicles in a very big way. We are going to make electric vehicles self-sufficient like UJALA. The idea is that by 2030, not a single petrol or diesel car should be sold in the country.”
Goyal was also very positive about the government giving aid to the electric industry in the first 2-3 years to make the transition from petrol and diesel car to electric cars smoother, before the industry stabilizes. He also talked about the government’s plan to launch EV (electric vehicles) in India on a huge scale within the next 3 years. The government will be building infrastructure and battery swapping programmes to make this happen.
As of now, the electric vehicle market is being dominated by Mahindra Electric providing all electric cars in India. However, the hybrid vehicle market is in a better position with many companies like BMW, Volvo and Toyota offering either conventional hybrids or plug-in hybrids in the country. Carmaker’s like Nissan and Tesla have also shared their plans of entering the Indian market with products like Leaf and Model 3 respectively. And if the plan of Indian government succeeds then we will surely see an increase of other global brands entering the Indian market with their electric cars.